Here’s all you need to know about Kalyan Jewellers’ ₹1,175 crore IPO opening on March 16

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Here’s all you need to know about Kalyan Jewellers’ ₹1,175 crore IPO opening on March 16
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  • The three-day public issue will begin on March 16 and end on March 18.
  • Kalyan Jewellers designs, manufactures and sells a wide range of gold, studded and other jewellery products.
  • The IPO comprises fresh issuance of equity aggregating up to ₹800 crore and an offer for sale (OFS) worth ₹375 crore.
The ₹1,175 crore initial share-sale of Kalyan Jewellers India is set to open for public subscription on March 16.

The three-day public issue would conclude on March 18, and the bidding for anchor investors would open on March 15. The company said, on Thursday, that it has fixed a price band of ₹86-87 a share.

The IPO comprises fresh issuance of equity aggregating up to ₹800 crore and an offer for sale (OFS) worth ₹375 crore. The company’s promoter, T S Kalyanaraman, would be offloading shares worth up to ₹125 crore, while Warburg Pincus affiliate Highdell Investment would sell up to ₹250 crore worth of shares through the OFS route.

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The company also plans to reserve shares worth ₹2 crore for eligible employees.

Kalyan Jewellers IPO opens next week
ParticularsIssue details
Opens onMarch 16
Closes onMarch 18
Price band₹86-87 per share
Minimum bid 172 equity shares
Reservation for qualified institutional buyers50%
Reservation for non-institutional buyers15%
Reservation for retail investors35%

Kalyan Jewellers designs, manufactures and sells a wide range of gold, studded and other jewellery products. The company started the jewellery business in 1993 with a single showroom in Thrissur district in Kerala and has now completed over 25 years in the jewellery industry with 107 showrooms located across 21 states and union territories.

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Founded by TS Kalyanaraman, who has over 45 years of retail experience, the company has an international presence with 30 showrooms located in the middle East as of December 2020.

Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the global co-ordinators and book running lead managers to the offer. In August last year, Kalyan Jewellers had filed preliminary papers for the IPO and obtained Securities and Exchange Board of India’s (SEBI) go-ahead in October.

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